Clifford Swan Investment Counsel LLC Lowers Stock Position in Carrier Global Corporation $CARR

Clifford Swan Investment Counsel LLC trimmed its position in shares of Carrier Global Corporation (NYSE:CARR) by 0.4% in the second quarter, HoldingsChannel.com reports. The fund owned 91,479 shares of the company’s stock after selling 411 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Carrier Global were worth $6,695,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CARR. Costello Asset Management INC increased its stake in shares of Carrier Global by 4.2% during the second quarter. Costello Asset Management INC now owns 3,153 shares of the company’s stock worth $231,000 after buying an additional 127 shares during the period. Rehmann Capital Advisory Group grew its holdings in Carrier Global by 1.3% during the 2nd quarter. Rehmann Capital Advisory Group now owns 12,083 shares of the company’s stock worth $884,000 after acquiring an additional 150 shares in the last quarter. Penobscot Investment Management Company Inc. increased its position in shares of Carrier Global by 0.7% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 20,833 shares of the company’s stock valued at $1,525,000 after purchasing an additional 155 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Carrier Global by 1.3% in the 1st quarter. Lindbrook Capital LLC now owns 12,294 shares of the company’s stock valued at $779,000 after purchasing an additional 156 shares in the last quarter. Finally, Code Waechter LLC lifted its position in shares of Carrier Global by 5.1% during the 1st quarter. Code Waechter LLC now owns 3,383 shares of the company’s stock worth $214,000 after purchasing an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 91.00% of the company’s stock.

Carrier Global Stock Performance

NYSE:CARR opened at $56.70 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.17 and a quick ratio of 0.80. The firm has a market cap of $48.25 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 1.96 and a beta of 1.25. The firm’s fifty day moving average price is $61.61 and its 200 day moving average price is $66.87. Carrier Global Corporation has a 1-year low of $54.22 and a 1-year high of $81.09.

Carrier Global (NYSE:CARR) last released its earnings results on Tuesday, July 29th. The company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Carrier Global had a net margin of 18.33% and a return on equity of 17.83%. The company had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.08 billion. Carrier Global has set its FY 2025 guidance at 3.000-3.100 EPS. On average, sell-side analysts expect that Carrier Global Corporation will post 2.99 EPS for the current year.

Carrier Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 18th. Shareholders of record on Wednesday, October 29th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.6%. The ex-dividend date is Wednesday, October 29th. Carrier Global’s dividend payout ratio (DPR) is 19.61%.

Analyst Ratings Changes

Several research analysts have recently issued reports on CARR shares. Barclays lowered their price objective on Carrier Global from $82.00 to $74.00 and set an “overweight” rating for the company in a research report on Thursday, September 11th. Wolfe Research dropped their price target on shares of Carrier Global from $77.00 to $76.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Melius assumed coverage on shares of Carrier Global in a research report on Tuesday, July 1st. They set a “hold” rating and a $90.00 price objective for the company. The Goldman Sachs Group dropped their target price on shares of Carrier Global from $88.00 to $76.00 and set a “buy” rating on the stock in a research report on Friday, September 12th. Finally, Zacks Research lowered shares of Carrier Global from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 14th. Eleven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $75.67.

Carrier Global Profile

Carrier Global Corporation provides heating, ventilating, and air conditioning (HVAC), refrigeration, fire, security, and building automation technologies in the United States, Europe, the Asia Pacific, and internationally. It operates through three segments: HVAC, Refrigeration, and Fire & Security.